— Shawn Gurcharran is second in command

ONE of Guyana’s premier financial institutions, the Guyana Bank for Trade and Industry (GBTI), has announced the appointments of James Foster as Chief Executive Officer (CEO) and Shawn Gurcharran as Deputy CEO.
According to information from the bank, Foster, a Guyanese, has extensive experience in the banking industry, having worked at various financial institutions in the US, the Caribbean and Canada.
“This covers private, retail, corporate banking, mortgage insurance and successful mergers and his seminal involvement in projects in many of the major world financial centres. His experience and expertise have already redounded to further enhance the image of the bank in the two years since his return to Guyana to serve as CEO (ag),” GBTI said in a post on its Facebook page.
Offering immediate support to Foster is Gurcharran who, according to the bank, has held a number of senior positions including Chief Financial Officer of GBTI.
The Deputy CEO holds a Master’s Degree in Finance and is a fellow of the Association of Certified Chartered Accountants (ACCA).

“His experience in the local banking sector spans some fifteen years. He is well respected among his peers in the banking and financial sector in Guyana, and he mentors other young practitioners in finance and accounting,” GBTI related.
His talent and active network make him ideally suited to help tailor GBTI’s response to the rapidly changing banking environment, primarily due to the plethora of oil and gas-related entities now operating in Guyana.
“The Chairman and the Board of Directors repose utmost confidence in the new holders of these two executive positions,” the bank said.
The new executives have oversight for the bank’s 12 branches across the country and its over 600 employees.
“We are empowered by an experienced and vibrant management team, a stable and prestigious work environment, a healthy income, dignified and high work ethics and standards and a bright future of innovative banking,” GBTI said on its website.
It was reported in April that despite the effects of COVID-19 in 2021, GBTI continued as a leader in the financial industry, recording a $1.7 billion profit after tax.
“There was a significant increase in the asset quality of the bank, much of which is attributed to the dedication and diligence of our team members,” Foster had said.
The bank’s profits grew by 28 per cent, while there was an increase of 12 per cent in deposit growth.
Foster also related the success of the GBTI Mutual Funds, which, in less than three years of existence, recorded a profit growth of $207 million. GBTI Mutual Funds offers investors a suite of alternative investment opportunities.
“Working as a team is key to GBTI’s successes. We seek to grow our customers’ businesses, improve the lives of our team members and make meaningful contributions to our communities,” the CEO said.
The bank, being cognisant of the effects of COVID-19, said that it supported communities and clients with reduced or eliminated fees, granted loan moratoriums, and reduced interest rates.